Trump launches surprise meme coin just before inauguration and price soars The move is the latest in a long list of crypto-related businesses and products linked to Trump
President-elect Donald Trump launched his own meme coin early Saturday morning, catching the crypto market by surprise ahead of his inauguration on Monday, and the coin's market capitalization immediately soared.
The coin's value surged within hours with the price soaring to over $30 Saturday morning, according to CoinMarketCap.
The coin was launched with announcements on both Trump's Twitter and Truth Social accounts.
The $TRUMP coin features the slogan "Fight, fight, fight!," and claims to represent "everything we stand for: WINNING!" The coin draws inspiration from Trump's election campaign rally slogan, "Fight, Fight, Fight," reportedly shouted after he survived an assassination attempt in July 2024.
Some traders on social media platforms expressed doubt about the validity of the posts, suggesting Trump's accounts were hacked and being used to sell a fraudulent token that would soon get withdrawn, but the posts remain on the platforms and there has been no statement from Trump indicating there is a problem, according to CoinDesk.
Built on the Solana network, the $TRUMP token has a total supply capped at 1 billion coins, with 200 million available initially. The remaining supply will be released in phases over three years, according to the official website.
The $TRUMP memecoin is related to CIC Digital LLC, a Trump-owned entity that has previously overseen the sale of Trump-branded NFTs, sneakers, and other merchandise. CIC Digital reportedly generated over $7 million in licensing revenue last year, leveraging Trump's name across various products.
The move is the latest in a long list of crypto-related businesses and products linked to Trump after he previously issued multiple NFTs and the decentralized finance platform World Liberty Financial. ...............
https://www.morningstar.com/news/marketwatch/20250118263/trump-launches-surprise-meme-coin-just-before-inauguration-and-price-soars
